How are general long-tern liabilities distinguished from other long-term liabilities of government? How does the financial reporting of general long-term liabilities differ from the financial reporting of other long-term liabilities?

Q: What are the special tax features of (a) Treasury securities, (b) agency issues, and (c) municipal…

A: (a): Treasury securities - Interest paid on all types of treasury securities will be fully taxable…

Q: Aside from issuing bonds, what do you suggests as other means of funding or can government source…

A: Bonds can be referred to as the instruments which are issued by entities and government for raising…

Q: In government-wide financial statements, how do intra-activity and interactivity transactions…

A:

Q: What are two major legal differences between state governments, and businesses, that would affect…

A: Financial reporting is defined as the financial results of the firm that are released for its…

Q: The public debt is the sum of all previous:   Budget surpluses minus the current budget deficit of…

A: Introduction:   The entire amount borrowed by the government to meet its development budget,…

Q: Which of the following does not affect the measurement of the defined benefit obligation? A.…

A: A defined benefit plan is a type of retirement savings plan which provides pension to employees…

Q: What impact does the use of the modified approach have on reporting within the government-wide…

A: Financial Statements:                   It refers to the end reports prepared by a business…

Q: What are the two government-wide financial statements? What does each normally present?

A:

Q: The modified accrual foundation of accounting should be explained. When preparing financial accounts…

A: Modified accrual basis of accounting:  A modified accrual basis of accounting is a method of…

Q: Explain the roles of various US government bones and how bond returns are measured. Explain in…

A: These are also known as treasury bonds which pay the fixed interest payment every 6 months until…

Q: What measurement focus is used in government-wide financial statements, and what system is applied…

A: The "current resources focus" is the measurement focus which is used in fund financial statements…

Q: Why should executory contracts be disclosed in the financial statements? Group of answer choices…

A: Executory contracts are contracts under which neither party has performed any of its obligations or…

Q: What does deficit spending require a government to do?

A: Deficit spending is termed as when the expenditure is more than the earnings.

Q: How is the issuance of a long-term bond reported on fund financial statements? How is the issuance…

A: Reporting of issuance of long term bonds  on fund financial statements: At the fund level the cash…

Q: A government’s MD&A states that government-wide net position decreased as a result of the issuance…

A: Net position: In simple term net position is a gap between Total asset and Total Liability. On…

Q: In the issuance of treasury bills (T-bills) the government is the a. Debtor b. Creditor c. Guarantor…

A: The treasury bills are the financial instruments for the business which are used to raise money from…

Q: What restrictions are placed on state and local government debt in Texas?

A: State and Local government Debt  In a simple word the term state and local government debt which…

Q: Which of the following information should be disclosed in the summary of significant accounting…

A: Significant accounting policies are the policies used in preparation and presentation of financial…

Q: federal government finance and service it outstanding debt

A: The national debt level of the United States is a measurement of how much the federal government…

Q: What is GSE (government-sponsored enterprise) debt?

A: Government-sponsored enterprises (GSEs) are the bonds which are supported by U.S. government. These…

Q: while governments are not required to issue interim financial reports, what role does interim…

A: Financial reporting: Financial reporting is the procedure used to communicate the information…

Q: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

Q: Calculate the amount that J&J’s retirement fund obligations are underfunded as of each year-end. How…

A: Asset retirement obligation (ARO) is an obligation that arises on the acquisition of some specific…

Q: Explain t

A: Modified accrual accounting combines aspects of accrual basis accounting with cash basis accounting…

Q: Why might the general obligation bonds of a state yield a return different from revenue bonds issued…

A: The question is based on the concept of municipal bonds used as debt security by local government to…

Q: fiscal

A: Introduction: Tax can be defined as mandatory levy by the government on the citizens of the country.…

Q: How regulatory role of the government is different from its other roles under Public finance and…

A: Government regulation affects the financial services industry in many ways, but the specific impact…

Q: Compare the use of accrual accounting in federal government financial reporting with the use of…

A: Accrual basis of accounting:  The revenues and corresponding expenses of the firm are reported…

Q: Interest payments on federal government bonds which are owned by the central bank 1, are recorded…

A: Interest payment is made by the issuer of securities to the buyer of securities in the consideration…

Q: What are the salient features and changes in the Government Accounting Manual? What problems or…

A: Government accounting manual shows and presents the guidelines and basic accounting policies and…

Q: The government has to go into debt to meet the needs of the budget deficit or shortfall. Identify…

A: A budget deficit in an economy exists as the expenditures of the country are in excess of the…

Q: True or false: Government can issue both stocks and bonds to finance government expenditures

A: Government need to raise finance for expenditures that it needs to undertake for running the country…

Q: i need definations only with example  Long term financing   defination ?…

A: We’ll answer the first three questions since the exact one wasn’t specified. Please submit a new…

Q: When is an encumbrance recorded? What happens to this balance? How are encumbrances reported in…

A: The GASB is the board that provides the guideline to the governmental units about proper accounting…

Q: Which fund(s) could contain an amortization of a bond premium? O Government Wide Only O Debt Service…

A: Bonds can be defined as the corporate debt instruments that are issued by corporations or companies…

Q: How has the dual system of financial statements impacted the financial reporting of state and local…

A: Financial statement:   Financial statements are prepared to summaries the account at the end of the…

Q: . while governments are not required to issue interim financial reports, what role does interim…

A: The importance of interim with regard to government are being assessed.

Q: Where is the Fed Funds rate as of today? Are there any other steps that can be taken by the…

A: Fed funds rate is termed as the interrst rate that is applied on the loans which financial…

Q: government

A: Answer: Government accounting: Government accounting is accounting methods that are being followed…

Q: Which of the following statements is false? Unmatured principal installments and accrued…

A: Liabilities should be reported when the transaction resulted in the amount that needs to be paid in…

Functions of the Federal Reserve System

The Federal Reserve System looks after the financial activities and operations of the banking system. It is the apex body that has complete control over the banking regulations. All the guidelines regarding the banking system, money supply, and formulation of the monetary policy come under the purview of the Federal Reserve System. The New York Fed also helps in drafting the monetary policy and supervising the financial system.

Elastic and Inelastic Markets

Measuring the change in percentage of an economic variable with respect to change in a different economic variable is known as elasticity. This change in percentage results in a change in price concerning changes in other factors. In simple terms, when one factor brings a change to another factor, it is called elasticity.